A PYMNTS Company

Amazon CEO Warns About Getting “Emotional” Over Antitrust Enforcement

 |  October 5, 2021

Amazon CEO Andy Jassy on Tuesday, October 5, advised lawmakers not to get too “emotional” while pursuing antitrust cases against his company, reported CNBC.

Jassy, who became Amazon’s CEO in July, was asked at the GeekWire Summit about the antitrust lawsuit filed in May by Washington, DC’s attorney general, Karl A. Racine. That complaint alleges that Amazon locks third-party merchants into agreements where they can’t offer goods any cheaper elsewhere online.

“It’s really important for Congress or lawmakers to really be thoughtful about what they’re trying to accomplish and not emotional,” Jassy said. The retail sector is highly competitive, he added, referring to his earlier comment that Amazon has only 1% of this global market and that physical stores represent 85% of the industry, reported Business Insider.

“It’s pretty hard to make retail more competitive,” he said. “If you’re making legislation, you want to make sure it applies to the whole industry and not one company.”

Jassy rejected the idea that Amazon’s online marketplace is so dominant that sellers have to use it. He also repeatedly said lawmakers might create “negative unintended consequences” with antitrust regulation.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.